Next Bank of England governor cannot be ‘jetted in from overseas’

Mark Carney has been “timid” about raising interest rates, a former Bank rate setter saidVICTORIA JONES/PA

The next governor of the Bank of England should not be “jetted in from overseas” and must have a better understanding of the UK economy than Mark Carney, a former interest rate setter has said.

Andrew Sentance, who used to sit on the Bank’s monetary policy committee, said that the Treasury should be considering only people who live in the UK when it draws up a shortlist of candidates to replace Mr Carney.

The Canadian-born governor is stepping down next June and a decision on his successor is due to be announced around November. Mr Carney’s appointment in 2013 made him the first foreign governor in the Bank’s 323-year history.

Mr Sentance said that Mr Carney’s lack of familiarity with the British economic and political…

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